WASHINGTON, July 24- The number of Americans filing new claims for unemployment benefits fell to the lowest level in nearly 8-1/ 2 years last week, suggesting the labor market recovery was gaining traction. "The economy is doing better," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania.» Read More
This week’s news that the city plans to spend $45 million to retrain jobless Wall Street executives may, understandably, have been met with less than sobs of gratitude in that demographic. After all, as the happily divorced like to say, stick a fork in a toaster once, it’s an accident. But a second time?
Friday: Bank nationalization is the big topic du jour. Everyone seems to dislike the idea, but more and more analysts are begrudgingly calling nationalization the inevitable next move in the financial crisis. UBS widened its tax probe; a survey of U.S. homeowners showed more depreciation; and gold rose over $1,000 on investors' flight to safety. CNBC heard from experts who said the U.S. dollar will emerge as the ultimate safe haven; and Citigroup and Bank of America will indeed survive.
A company without a coherent strategy for finding and placing interns is one that isn't identifying the best of the vast talent pool currently bubbling at colleges all across the country, and therefore isn't likely to benefit from it in future.
The Fed says the economy has gotten worse than it ever expected. But the Fed governors and bank presidents forecast that it will not get much worse.
Global stocks ended the week in the red, near 6-year lows, as pessimism over the economy and banking sector set in, scaring investors away from stocks and back into bonds and gold.
Billionaire investor Wilbur Ross, chairman and CEO of WL Ross & Co., shared his insight on Obama's economic plans, the SEC, the housing market and more with CNBC.
Individuals aren’t the only ones dealing with the range of emotions that a job loss can ignite: shock, fear, paralysis, disappointment, anxiety, and more.
Another round of layoffs was announced on Thursday, adding to the gloom over rising unemployment. Delta Air Lines and Performance Food Group were among the latest names on Wednesday to announce job cuts.
Here's the question: your company has cut discretionary costs and has laid off a group of workers, but still needs to cut more. Your choice is between cutting pay and requiring a furlough. What's an executive to do?
As the economy continues to struggle, the public is growing increasingly concerned about losing jobs, not having enough money to pay the bills and seeing their retirement accounts shrink, according to an Associated Press-GfK poll.
It is not just Wall Street executives who banked on receiving year-end bonuses to support their lifestyles when the economy was booming, the New York Times reports.
Global stocks were mostly higher Thursday as recent selling pressure eased and safe-haven buying of the dollar and gold subsided, but reminders of the global economic gloom and financial sector woes kept investors cautious.
Below are the minutes released by the Federal Open Market Committee after its Jan. 27-28 meeting:
I went to see a movie yesterday for the first time in a while, and before the film started I was treated to lengthy recruiting advertisement for the National Guard/Kid Rock video.
Tuesday: President Obama signed the $787 billion economic stimulus bill into law, as governments around the world consider their own actions. But global markets plunged on fears of a deepening recession; Chrysler asked the U.S. for $2 billion more in loans and General Motors is widely expected to follow suit. Investors are fleeing to bonds and gold-backed securities. CNBC heard from experts who warned that the March "bear market bull" won't happen — but that we are, indeed, in a "bottoming process."
Another round of layoffs was announced on Tuesday, adding to the gloom over rising unemployment.
In a recession as bad as this one, here is what passes for optimism: Some economists say the wrenching pace of the downturn may be slowing. The New York Times reports.
In a few short weeks, approximately 1.5 million kids will graduate from American colleges and universities, the largest graduating class in history.
It may seem like the country that used to make everything is on the brink of making nothing.
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